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Last June, the Ministry of Economic Affairs and Digital Transformation released the Draft Royal Decree to develop the regulation of electronic invoicing.
However, the processing of the text is being delayed and has not yet reached the Council of State. It follows from the wording that companies that invoice more than eight million per year will have one year, from the approval of the document, to start invoicing electronically and to communicate the payment. Then, in two years, all those that invoice less than eight million will also have to adapt to electronic invoicing.
For their part, the self-employed could have an additional year or two (until 2027 or 2028) to complete their adoption of the new billing system.
In addition, and this is another of the novelties, the Treasury will force the implementation of a QR code on all invoices issued, although the entry into force of this measure is pending the approval of an order by 'Treasury.
This measure seeks to improve the traceability of commercial transactions and facilitate their control by the tax authorities. The QR code will incorporate detailed information about the invoice, allowing faster and more efficient verification by the Inland Revenue, speeding up deductions on the tax return and enabling customers to know the details of the invoice by just scanning the code.
What elements must be included in electronic invoices?
- Electronic invoices must be signed with an electronic signature and will be identified with a unique code.
- They will have to report what the state is.
- They must be issued through an approved platform.
- They must be accompanied by additional information in PDF.
What are the penalties for not having electronic invoicing programs?
Companies and freelancers who do not have electronic invoicing programs would be incurring an administrative infraction, which could be sanctioned with a fine of up to 10,000 euros.
If you need more information, do not hesitate to contact DATA AND SERVICES